US Stock Market Overview – Stocks Slide as Impeachment Inquiry Kicks In

Markets focus on trade and impeachment
David Becker
silhouette form of bear on technical financial graph

US stocks moved lower on Thursday as the Whistle Blower complaint seemed to capture the attention of the political news media. All eyes were on the House of Representatives today as they began their impeachment inquiry. US business investment contracted but GDP remained unchanged as the US consumer continues to buoy the economy. Jobless claims came in slightly weaker than expected. Volatility edged higher and the VIX volatility index remains buoyed as it now seems clear that an impeachment investigation will move forward. Most sectors were lower, lead down by energy which dropped 1.2%. Real-estate bucked the trend

US Business Investment Contracted

US GDP came in as expected rising 2% in the Q2, according to the Commerce Department. US business investment contracted more sharply that previously estimated in the second quarter and corporate profit growth was tepid, casting a shadow on the economy. Business investment declined at a 1.0% annualized rate last quarter, the government said in its third reading of second-quarter GDP on Thursday. That was the steepest decline since the fourth quarter of 2015. Business investment was previously estimated to have declined at a 0.6% pace. It was pulled down by an 11.1% pace of decline in spending on structures, which reflected drops in the categories of commercial and healthcare, and mining exploration, shafts and wells.

Jobless Claims Edged Higher

The Labor Department reported that jobless claims increased 3,000 to 213,000 for the week ended September 21. Data for the prior week was revised to show 2,000 more applications received than previously reported. Expectations had forecast claims increasing to 212,00 in the latest week. The Labor Department said only claims for Puerto Rico were estimated last week.

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US